Check Your Business Health| Chargeback Expertz

Frauds lists goes on and on. For a merchant, it’s very important to figure out the frauds at a very primitive stage. Every merchant should have an action plan to work with it. If the merchant doesn’t do anything to reduce fraud level Risk and The compliance department will close merchant traffic. To avoid penalties and disqualification, Merchant must review its business processes.

Business should be healthy and well procured. Frauds and back to back chargebacks affect a lot and Detroit the business's health a lot.

Here are few tips where a merchant can work on and lead to progress:

Request that cardholders provide the following information during the order taking process:

1.Home, business or another telephone number where the cardholder can be reached.

2.Cardholder Name, exactly how their name appears on their card.

3.Card Number.

4.Card Expiration Date, four-digit number MM/YY.

5.CVV (Card Verification Value) and/or CID (Card Identification Data) for some regions, the three-digit number located on the back of the card in the signature panel.

6.Card billing address along with the ship-to address (when necessary).

Necessity for each transaction:

•Verify the cardholder name, full billing address, email address and phone number with the issuer in real-time using.

•If the sale is on a credit card, refund sales on the same card.

•Clearly explain any return policies and offer documentation of this policy with each sale.

•Duplicate charges, or installment plans, unless otherwise stated, require an authorization for each sale.

•Get a signature for each delivery and keep all delivery records.

Best practices for e-commerce:

•Offer a customer service telephone number.

•Clearly identify your company’s return policy and shipping time frames and offer documentation of these policies with each sale.

•Clearly identify all features of a product or service.

•Disclose the information security policies and processes your business has in place.

•Include your common DBA and customer service number on the customer’s transaction receipt.

Protection for the customers

•Protecting Customer Information

•Truncate all credit card information.

•Do not store any CID data in your records or on any type of sales data.

•Secure your site. Data MUST be stored in a secure environment that is protected by firewalls from your Website or access over the Internet. This data should be password protected with limited authorized use.

•Do NOT store any customer or credit card information on your Web Server.

•Please refer to your Merchant Operating Regulations for further Card Not Present (CNP) requirements with respect to the submission of sales.

Chargeback Expertz

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